First Eagle Investment Management recently released its Q3 2020 Investor Letter, a copy of which you can download here. The First Eagle Global Fund A Shares posted a return of 5.64% for the third quarter (without sales charge), underperforming its benchmark, the MSCI World Index which returned 7.93% in the same quarter. You should check out First Eagle’s top 5 stock picks for investors to buy right now, which could be the biggest winners of this year.
In the said letter, First Eagle highlighted a few stocks and C. H. Robinson Worldwide Inc. (NASDAQ:CHRW) is one of them. C. H. Robinson Worldwide Inc. (NASDAQ:CHRW) is a transport company. Year-to-date, C. H. Robinson Worldwide Inc. (NASDAQ:CHRW) stock gained 15.8% and on October 28th it had a closing price of $88.58. Here is what First Eagle said:
“As North America’s largest freight broker, C.H. Robinson benefited from a rebound in truck freight pricing, which continued to recover from the dislocations felt earlier in the year. Truck demand has spiked as consumers increasingly spend on hard goods that require distribution rather than experiences and services, while both truck and driver supply has remained constrained.”
In Q2 2020, the number of bullish hedge fund positions on C. H. Robinson Worldwide Inc. (NASDAQ:CHRW) stock decreased by about 13% from the previous quarter (see the chart here), so a number of other hedge fund managers don’t believe in CHRW’s growth potential. Our calculations showed that C. H. Robinson Worldwide Inc. (NASDAQ:CHRW) isn’t ranked among the 30 most popular stocks among hedge funds.
The top 10 stocks among hedge funds returned 185% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 109 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.
Video: Top 5 Stocks Among Hedge Funds
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Disclosure: None. This article is originally published at Insider Monkey.